news

Base metals producer Central Asia Metals reports profit of $33.8 million in 2022, down 60% y-o-y

Kitco Media
By Vladimir Basov
Published
Updated
Kitco News
The Leading News Source in Precious Metals

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.

Editor noteGet all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here!

(Kitco News) - Base metals producer Central Asia Metals (AIM: CAML) today announced record copper production of 14,254 tonnes in 2022 (2021: 14,041 tonnes).

In 2022, the company also produced 21,473 tonnes of zinc in concentrate (2021: 22,167 tonnes) and 27,354 tonnes of lead in concentrate (2021: 27,202 tonnes).

CAML also reported 2022 gross revenue of $232.2 million (2021: $235.2 million), EBITDA of $131.6 million (2021: $141.5 million), free cash flow of $89.7 million (2021: $103.8 million), profit for the year of $33.8 million (2021: $84.2 million), adjusted earnings per share (excluding a non-cash impairment) of 48.15 cents, and reported earnings per share of 19.10 cents (2021: 47.69 cents).

CEO Nigel Robinson commented, "I am pleased to report a good set of financial results for 2022, and a year of solid performance for CAML. We ended 2022 with a strong balance sheet, having made the final payment on our corporate debt facility in August, with cash in the bank of $60.6 million.

"Following this strong performance, we propose a 10 pence per share final dividend, resulting in a full year dividend of 20 pence per share, comparable with 2021. The full year dividend represents 47% of our 2022 FCF and is in line with our stated policy of 30% to 50% of FCF."

In 2023, the company expects to produce between 13,000 and 14,000 tonnes of copper, between 19,000 and 21,000 tonnes of zinc in concentrate, and between 27,000 and 29,000 tonnes of lead in concentrate.

Central Asia Metals owns 100% of the Kounrad SX-EW copper project in central Kazakhstan and 100% of the Sasa zinc-lead mine in North Macedonia.

Jaguar Mining's gold reserves decreased in 2022, resources up
Kitco Media

Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

Mdi Earth Logo

Share

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.